Xiaomi's Premium EV Grip Holds as UOB Kay Hian Trims Target on Soft Consumer Demand
Published on 11/10/2026 at 21:11 | Editorial boerse-global.de
Xiaomi's automotive unit is proving a rare bright spot in a shrinking Chinese market, even as one brokerage takes a dimmer view of the broader business ahead of the group's third-quarter results.
The SU7 was China's best-selling sedan priced above 200,000 RMB in October, according to media reports, and also led cumulative sales in that bracket for January through October — a sign the model's strength isn't confined to a single bumper month. Lei Jun said all four Xiaomi models ranked above that price threshold in China's October ranking of electrified vehicles, spreading demand across a wider lineup.
Those figures come from the China Passenger Car Association (CPCA), which put Xiaomi Auto's October deliveries at 50,123 units. That marked a 3.0% increase year on year and a 25.3% jump from September, lifting Xiaomi to sixth place in the monthly electrified-vehicle rankings.
Outperforming a Contracting Market
The gain stands out because the wider industry moved the other way. CPCA data show retail sales of alternative-energy vehicles in China fell 13.7% in October, while total passenger-car retail sales dropped 27.1%. Xiaomi's relative strength, rather than its headline volume alone, is what gives the numbers their weight — provided the company can keep defending its demand if the market stays weak.
Should investors sell immediately? Or is it worth buying Xiaomi?
On a year-to-date basis, roughly 336,500 vehicles were delivered from January through October, against a full-year 2026 target of 550,000. The October performance was strong, but the annual goal remains demanding.
Buyback and Analyst Downgrade
Xiaomi bought back 1.66 million of its own Class B shares yesterday for about HK$49.9 million in total, with the repurchased stock set to be cancelled. The shares were up 1.7% today.
UOB Kay Hian, meanwhile, cut its price target on the stock, citing weaker consumer demand. The brokerage expects third-quarter 2026 revenue to fall 6.7% year on year, with adjusted net profit down 57.2% to Rmb4.84 billion.
Xiaomi at a turning point? This analysis reveals what investors need to know now.
November 24 as the Next Test
Xiaomi has scheduled a board meeting for November 24, when the third-quarter 2026 results will be reviewed and approved. For investors, that report is the next concrete checkpoint — and the key question will be how the company's resilient position in autos translates into sustainable growth in the group's overall figures.
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